Shareholders’ Account definition

Shareholders’ Account. An account in the name of the Borrower over which the Lenders have no security and to which the Borrower is allowed to make payments in accordance with Clauses 9.4.3(a) (Priority of Payments) and 9.4.3(c) (Restricted Application).

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Shareholders’ Account has the meaning given to such term in Section 3.01(a) hereof.

Shareholders’ Account means a bank account designated by the Shareholders’ Representative to Parent in writing.

Examples of Shareholders’ Account in a sentence

• To the extent that, at the time these amounts are received on a date after the First Repayment Date on which Tranche E has been completely repaid, the Borrower will however transfer these amounts to the Shareholders’ Account.

• As the Closed Ancillary Fund gets released over time, the amount will be transferred to the Shareholders’ Account.

• Parent shall duly and promptly pay, or the Escrow Agent shall pay, as applicable, each CVR Payment Amount, if any, to the Shareholders’ Account in the manner provided for in Section 2.4 and Section 6.10 and in accordance with the terms of this Agreement.

• To the extent that, at the time these amounts are received on a date after the First Repayment Date on which Tranche E has been completely repaid in accordance with Clause 9.4.3(a)(xi) (Application of Moneys on Proceeds Account), the Borrower will however transfer these amounts to the Shareholders’ Account.

• Provided, that if before the Payment A Date, Parent has delivered the amount of Payment A to the Escrow Agent pursuant to Section 2.8, then instead, on the Payment A Date and pursuant to the Escrow Agreement, the Escrow Agent shall deliver by wire transfer to the Shareholders’ Account the amount of Payment A in immediately available funds out of the Escrow Amount.

• No transaction described in Section 5.1(a) hereof shall give the Holders the right to have a CVR Payment Amount delivered to the Shareholders’ Account.

• Any seed capital initially injected in the Post-Conversion Participating Account will revert to the Shareholders’ Account, together with a reasonable rate of after Tax return once the fund has generated enough surplus and thus reached a self- sustaining level.

• Those policies will then be treated as non-participating and will be allocated to the Shareholders’ Account.

• If the Adjustment is a positive amount (i.e., if Parent overpaid), the Shareholders’ Representative shall pay such amount to Parent by wire transfer of immediately available funds out of the Shareholders’ Account to an account designated by Parent within five Business Days of the Adjustment Date.

• If the Adjustment is a negative amount (i.e., if Parent underpaid), Parent shall pay such amount to the Shareholders’ Account by wire transfer of immediately available funds within five Business Days of the Adjustment Date.

More Definitions of Shareholders’ Account

Shareholders’ Account. Has the meaning ascribed thereto in the Pulp Mill Facility Agreement.

Shareholders’ Account means the account established and controlled by the Shareholders’ Representative in accordance with the Shareholders’ Representative Agreement to receive and disburse monies, and among other things to provide for the Adjustment.

Shareholders’ Account means, with respect to a Seller, the shareholder's account ("compte courant d'associe"), if any, between such Seller and the Company.

Shareholders’ Account shall have the meaning ascribed to it in Section 2.2(a). “Shareholders Cap” shall have the meaning ascribed to it in Section 8.2(b).